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Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
Edition 17ISBN: 978-0078025778Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
Edition 17ISBN: 978-0078025778 Exercise 32
Johnston. Inc.. engaged in the following transactions involving treasury stock:
a. Prepare general journal entries to record these transactions.
b. Compute the amount of retained earnings that should be restricted because of the treasury stock still owned at December 31.
c. Does a restriction on retained earnings affect the dollar amount of retained earnings reported in the balance sheet Explain briefly.
a. Prepare general journal entries to record these transactions. b. Compute the amount of retained earnings that should be restricted because of the treasury stock still owned at December 31.
c. Does a restriction on retained earnings affect the dollar amount of retained earnings reported in the balance sheet Explain briefly.
Explanation
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(a) Preparing General Journal Entries:
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Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
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